{"data":{"id":"us-tx/tex.-local-government-code-504.303","jurisdiction":"us-tx","citation":"Tex. Local Government Code § 504.303","heading":"PAYMENT OF BONDS.","body":"The proceeds of the sales and use tax imposed under this chapter may be used to pay the principal of, interest on, and other costs relating to the Type A corporation's bonds, but the bonds or any instrument related to the bonds may not give a bondholder a right to demand payment from tax proceeds in excess of the proceeds collected from the tax imposed under this chapter.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.","path":["LOCAL GOVERNMENT CODE","TITLE 12. PLANNING AND DEVELOPMENT","SUBTITLE C1. ADDITIONAL PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT","CHAPTER 504. TYPE A CORPORATIONS","SUBCHAPTER G. USE OF TAX PROCEEDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/LG/htm/LG.504.htm#504.303","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:27Z","sha256":"0589428aeb46566094dbf8f2e89a2b0e08824f063d3aa65c894954cce7d0e9f5","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-local-government-code-504.302","next":"us-tx/tex.-local-government-code-504.304"},"notice":"GroundRules: Original legal text. Not legal advice."}